Gifting Or Transferring Interest In A Family LLC Or Family LP In Washington State – New Proposed IRS Rules

If and when they are adopted, new proposed IRS regulations would reduce the ability to use valuation discounts when valuing transfers of interest between family members in some family LLCs or family limited partnerships. The proposed regulations also expand the instances in which the lapse of certain voting and liquidation rights attached to an interest in a family LLC / family LP will be treated as a taxable gift or bequest. For more information about the formation of family entities, or gifting or selling interest in family entities, call one of the estate planning attorneys at Beresford Booth PLLC.

Beresford Booth PLLC

Beresford Booth is a full-service law firm located in Edmonds, WA. Our clients range from small startup companies to families to growing businesses. We pride ourselves on providing first-class legal services in a practical, creative and timely fashion. We proudly serve clients across Washington State and throughout the Pacific Northwest.

Beresford Booth is a Primerus law firm, an international society of top-rated, independent law firms.